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Narayana Murthy criticises exim policy

Infosys Technologies Chairman and CEO N R Narayana Murthy has expressed disappointment over the new exim policy.

Murthy is a member of the National Taskforce on Information Technology and Software Development.

T O D A Y

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In his reaction from his Bangalore headquarters, he said no steps have been taken to remove procedural hassles that affect the software industry.

If the industry should reach the targeted $50 billion, it is necessary that the regulatory controls relating to customs, central excise and other regulations are removed.

Companies should be allowed to operate on a self-certification policy. At present, transaction costs relating to such regulatory compliance are high and hamper the growth of this sunrise industry, he added.

UNI

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